Mashreq

Mashreq is a bank whose digital business proposition, Mashreq NEO BIZ, serves startups and small and medium companies registered in the United Arab Emirates. It is offered as business bank accounts.

Account types There are two tiers: NEO BIZ Lite and NEO BIZ Prime. Both are digital accounts for companies that prefer to open and manage banking online rather than in a branch.

Eligibility The product page sets out clear conditions. The company must be registered in the UAE, with annual turnover up to AED 30 million, and at least one signatory must be a UAE resident. Further product and entity requirements apply, so being a UAE startup or SME does not guarantee approval.

Positioning Customer types named are UAE-registered startups and SMEs. Larger corporates fall outside the turnover cap and would need to look at the bank's other business offerings. No fees, limits, currencies or card details are given in the data available, so these should be requested during application.

Who it suits NEO BIZ suits young UAE companies and small firms that need a digital-first business account with a local signatory, and want to compare Lite and Prime before choosing. Foreign-owned companies without a resident signatory would not meet the stated condition.